The Government's failure to find a buyer for Clancy Barracks in Dublin is the strongest indication yet that the housebuilders are not exactly enamoured by the prospects of having to hand over at least 20 per cent of it for social and affordable housing.

A few years ago, a site of this quality on the River Liffey would have led to a dogfight between the developers, but on this occasion only one builder pitched for it in the tendering process. The second tender came from Dublin Corporation.

Though Pat Nolan of Hamilton Osborne King had been - and still is - quoting a guide price of over £20 million (25.39) for the barracks and 13.5 acres, the corpo's tender is thought to have been little more than £15 million (19.05m). And to think that the Department of Defence had put a value of £40 million (50.79) on it when it held discussions several months ago with the corporation.

At this stage the Islandbridge property is for sale by private treaty but with the waters muddied over the social housing content, it is hardly surprising that HOK is now putting the emphasis on the prospects for using the barracks as an office venue so that the corpo won't have any claim on it.

The agent has even gone so far as to remind developers that office rents in the area have already hit the £20 (€25) a sq ft mark. However, with the barracks zoned for housing, it must seem unlikely that the city planners would allow it to be used entirely for offices.

With over 7,000 city families on the housing waiting list, the corpo seems hell-bent on offloading some of them on to this well-located site.

So much that HOK can expect a call from City Hall in the next day or two as John Fitzgerald's men resume bidding for the barracks.